Ex-FTX users report funds being released in $900M distribution round
- Investing
Crystal Kim- 0
- 2 minutes read
Several users of the long-defunct crypto exchange reported that distribution agents had begun releasing funds to reimburse creditors for some of their 2022 losses.
The trust behind reimbursing creditors from defunct cryptocurrency exchange FTX has begun its fifth distribution of funds, sending $900 million to affected users.
In a Friday X post, former FTX user Sunil Kavuri reported that he had received funds distributed from the FTX Recovery Trust and crypto exchange through Kraken. Kavuri said he had received a notice last week that FTX had sent the funds to Kraken, which released them as scheduled on Friday as part of the distribution plan for exchanges including BitGo and Payoneer.
Source: Sunil Kavuri
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